Hong Kong – OPEC+ Group oil producing countries say it has planned to increase the output as the price of oil has dropped more than $ 2 on Monday. The US Future has fallen
The US benchmark crude oil has been submerged $ 2.21 or 3.8% to $ 56.08 per barrel in electronic trading on New York Mercantile Exchange.
International Standard Brent Croud lost $ 2.14 to $ 59.15 per barrel.
In the weekend, the OPEC+ Group of Eight countries have announced that it will increase its output by 411,000 barrels every day until June 1, increasing production.
This party says that the decision was stronger, although analysts also assumed that it could reflect the desire to grace her before visiting the Middle East later this month with US President Donald Trump.
Prices have dropped by about 20% in the last three months because traders have influenced the potential impact of US President Donald Trump’s trade policies in the global economy.
“Washington wants cheap energy, and the Gulf producers are still leaning on US security guarantee; the White Houses dropped, they listen,” Stephen Ines of SPI Asset Management said in a comment.
“In that sense the US President OPEC+has turned into an informal swing vote,” he said.
US crude oil has decreased by about 17% for the year and prices are falling at a point where many producers can no longer gain profit.
In stock trading, the markets were closed in Shanghai, Hong Kong, Tokyo, Seoul and India. Australia S&P/ASX 200 is reduced to 0.7% and stands at 8,182.90 and Taiwan’s Tyex has decreased by 2.5%.
US $ 144.71 from yen to 144.32 Japanese yen.
Euro has risen from 1.1306 to $ 1.1334.
On Friday, Wall Street has increased its profit from the longest win in the market since the 21st. President Donald Trump has re -claim most of the place that lost his trade war in early April.
The rally was encouraged by the expected-renowned report in the US job market and recovered the hope that Washington would reduce its trade tension with China.
S&P500 has risen to 1.5% at 5,686.67. The Doo Jones Industrial Average has been added to 41,317.43 by adding 1.4% and Nasdak composit increased to 1.5% 17,977.73.
The benchmark index has dropped by 5.7% so far this year and in February it is .4.5% below the record.
The profits were widespread. About 90% stock and each sector of S&Developed p500. Technology stocks led. Microsoft increased by 2.5% and NVDia by 2.5%. The iPhone maker assumed that it would cost $ 900 million for Trump’s tariff.
Banks and other financial agencies have also made strong profits. JPMORGGAN chase has increased by 2.3% and Visa has been closed to 1.5% more.
Employers have added 177,000 jobs in April. It identifies a recession in the rented from March, but it was better than economists expecting the expectation. However, the latest work statistics still do not reflect the effects of Trump’s board-board tariff economy. Many of those who were supposed to be in effect in April were supposed to be effective in many of them, excluding China, three months delayed.
In the midst of the tensions of the trade war, the work market is closely monitored for stress signs. Strong employment has helped to increase the cost and economic growth of consumers in the past few years. Economists are now concerned about the impact on consumers and businesses in imports, especially about how higher expenses will be hired and expensive.
The economy is already showing signs of strain. In the first quarter of the year, the US economy shrunk at 0.3% annual speed. It was slow by the intensity of imports as he tried to move forward than Trump’s tariff.
Companies are cutting and withdrawing financial forecasts due to uncertainty about how much the companies will spend their tariffs and how much they will impose consumer and SAP expenses.
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